EMerging Equity
Junk Status
Moody’s Cuts Russia’s Sovereign Rating To Junk, Expects `Deep Recession’ In 2015
Moody’s Investors Service downgraded Russia’s sovereign debt rating to junk status on Friday, assigning a rating of Ba1 — from its previous rating of Baa3 — with a negative outlook. Moody’s said in a statement the reason for the downgrade to junk status was due to impaired prospects for the nation’s economy, further erosion of fiscal strength and … Continue reading
Greece ETF Derailed By S&P Downgrade
By Tom Lydon What started as a wild week for the Global X FTSE Greece 20 ETF (NYSEArca: GREK) will end that way as the lone Greece ETF is tumbling by 3.7% after Standard & Poor’s pared its rating on the country’s sovereign debt to B- from B. The ratings agency is keeping the long- and … Continue reading
Russia’s PM Signs Multibillion Dollar Anti-Crisis Plan
Russian Prime Minister Dmitry Medvedev has signed a one-year anti-crisis plan designed to stabilize the economy. The document includes 60 measures and will cost at least $35 billion (2.3 trillion rubles). The final cost hasn’t yet been calculated but the official statement published Wednesday shows that as for now the Government is going to spend … Continue reading
S&P Downgrade ‘Groundlessly Pessimistic’ – Russian Finance Minister
The downgrade of Russia’s credit rating by S&P is unreasonable, as the agency didn’t consider the country’s anti-crisis plan, and the strong economy with its large reserves and extremely low public debt, said Russian Finance Minister Anton Siluanov. Siluanov says he does not think the move will lead to a sharp decline in the share … Continue reading
S&P Downgrades Russia Credit Rating To Junk
Standard & Poor’s has cut Russia’s credit rating to junk level, putting it below investment grade for the first time in a decade. The international ratings agency announced on January 26 it had lowered its rating for Russian government debt to BB+ from BBB-. It added a negative outlook on the rating, saying, “The downgrade … Continue reading
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